If you run an online business (or really any business, for that matter) the biggest metric you probably use to value your company is its revenue – how much you’re selling and how much money you’re making from it. But if that’s the only way you’re increasing your company’s value, you may want to take a look at Facebook.
While Facebook generates about $2 billion in ad revenue each year, the company is valued at more than $100 billion.
So where does all this additional value come from? Facebook’s influence, its network, and its information.
When Mark Zuckerberg met with President Obama, it showed that Facebook’s influence went beyond social networking. As the leader of your business, you can have similar influence; you won’t be meeting with the President of the United States, but you can be meeting with other industry leaders.
As Facebook continues to expand its network, it’s connecting people easily and efficiently. These people can, in turn, connect with others and continue to expand their own networks. A big part of your company should be your network – your customers, your suppliers, and others in the industry. There can be a tremendous amount of value in your network, so don’t ignore it.
Facebook has mountains of information – from users’ phone numbers to their favorite movie. Facebook uses this information to tailor a user’s experience. You can do the same with your customers (although you may not have any fancy algorithms to automate it) by connecting with them, using e-mail marketing, and doing what you can to satisfy each individual.
So don’t limit your business you just selling more and generating more profits. While that is an extremely important part of your business, you can increase the value of your company in other ways – by expanding its influence, increasing its network, and using the information at hand.
